Federal appeals court in NY says Argentina and banks must reveal info to US hedge funds

Associated Press

A federal appeals court in New York says Argentina and various banks must reveal information about the South American nation's assets.

But the 2nd U.S. Circuit Court of Appeals in Manhattan also cautioned a lower-court Manhattan judge that Argentina is entitled to grace and civility in the pursuit of records. It said that is even more important when it affects Argentina's diplomatic and military affairs.

Continue Reading Below

The ruling Tuesday came after U.S. hedge funds that hold Argentina bonds won judgments requiring that they be paid. The hedge funds claim Argentina defaulted on $1.5 billion they are owed after moving assets far and wide to hide them from creditors.

Argentina says in court papers it is being harassed by the hedge funds. Neither side immediately responded to requests for comment.